DSE surges 89pc, NICO tops gains

DAR ES SALAAM: THE Dar es Salaam Stock Exchange (DSE) closed the week with market activity showing an increase in activity compared to the previous trading week.

Total turnover for the week increased to 17.76bn/- from 9.8bn/-, representing an 89.35 per cent increase. CRDB emerged as the dominant player, contributing 59.56 per cent of the total market turnover.

Close behind was NMB, which accounted for 19.86 per cent, DCB contributed 1.8 per cent of the total turnover, reinforcing their positions as notable movers in the week’s trading session. On the price movement front, NICO stood out as the week’s top gainer.

Its share price appreciated by 40.15 per cent, closing at 1,850/- per share. DSE followed closely, recording a 21.14 per cent increase, closing the week at 5,960/- per share.

On the loser’s side MKCB recorded a decline, with its share price falling by 5.96 per cent to 2,680/-. It was followed by SWISS, which shed 4.74 per cent to close at 2,010/- per share and AFRIPRISE which shed 4.72 per cent to close at 505/- per share.

In terms of market valuation, the exchange registered an increase in both total and domestic market capitalisation. Total market capitalisation is up by 0.5016 per cent to 22.110tri/-.

Similarly, domestic market capitalisation up by 0.6572 per cent, closing the week at 14.348tri/-. Key benchmark indices All Share Index (DSEI) closed at 2,579.37 points up by 0.5015 per cent. Tanzania Share Index (TSI) closed at 5,420.04 points up by 0.6572 per cent.

Sector Indices Industrial & Allied Index (IA) closed at 4,293.43 points, down by 0.0468 per cent. Bank, Finance & Investment Index closed at 9,994.54 points, up by 0.9724 per cent. Commercial Services Index closed at 1,666.41 points, up by 1.3545 per cent.

Market news round DSE rally fuelled by structural reforms The Dar es Salaam Stock Exchange (DSE) has in just one year, experienced a record-breaking rally driven by structural reforms and renewed investor confidence.

The remarks were made by DSE brokers while reflecting on the equity market’s performance during Mr Peter Nalitolela’s first year as Chief Executive Officer.

Advisory and Research Manager at Zan Securities, Mr Isaac Lubeja, reported that the DSE’s domestic market value rose by 16.8 per cent, adding 2tri/- to reach 14.2tri/-, while total market capitalisation surged by 24.3 per cent to 22.6tri/- as of August 22. Bond market trades reached 3.5tri/- already surpassing 2024’s full-year total of 3.1tri/-.

“The rally is driven by regulatory reforms and stronger investor participation,” said Lubeja, noting new trading rules introduced in June that improved market efficiency, liquidity and price discovery.

NICOL declares dividend for the year 2024 NICOL Tanzania PLC has declared a dividend of 70/- per share for the year 2024, marking a continued trend of strong shareholder returns.

This payout reflects steady growth from 53/- in 2023 to 70/- in 2024, highlighting the company’s consistent profitability and commitment to rewarding investors.

The dividend will be paid on 30th September 2025, with the register closing on 24th September 2025.

The steady upward trajectory in NICOL’s dividend history underscores the company’s resilience and long-term value creation for shareholders.

ALSO READ: PM hails DSE for significant growth as capital market hits 21tri/-

Highlights: Debt Market Treasury bill auction no: 1183 On August 27th, 2025, the Central Bank was in the market offering treasury bills to investors.

The offerings included 900m/- for the 35-day maturity Treasury bill, 1.9bn/- for the 91-day T-bill, 2.9bn/- for the 182- day T-bill and 75bn/- for the 364-day T-bill. In this auction, there was satisfactory demand for all the maturities, as they were all highly subscribed.

The 35-day bill received a 100 per cent subscription rate, 91- day bill was oversubscribed with a subscription rate of 626.3 per cent, the 182-day bill had a 513.79 per cent subscription rate and the 364-day bill was subscribed to 182.49 per cent.

The Bank of Tanzania accepted 56 per cent of the bids received in the 364-day bill. The 364-day bill recorded a decline in its weighted average yield, falling from 6.9156 per cent in the previous auction held in mid-August to 6.6566 per cent in this auction.

This is equivalent to a drop of 25.9 basis points; this has been a continuous downward trend for the past three auctions.

The price floor was slightly declined to 93.4 from 93.47 in the previous auction, and the Central Bank allotted slightly more than what was offered.

The inflation rate for July 2025 stood at 3.3 per cent. Secondary Market Activity The secondary bond market posted a turnover of 54.5845bn/-, down from 213.6414bn/- in the previous week—a decrease of 74.45 per cent.

Activity was primarily concentrated in the long-term bonds; 20- year and 25-year bonds. Market Outlook Equity activity has recovered during the week, mostly due to a rise in demand and dividend announcements during the week, while the bond market activity has decreased significantly during the week.

Looking ahead, we expect a continued consolidation period in the equity prices in banking and a handful of industrial names, as for the fixed-income market, there will be a 20-year treasury bond auction on 3rd September 2025, with a coupon rate of 14 per cent, we expect yields to be up to 13.5 per cent.